This video discusses two approaches to Word of Mouth marketing. One that makes marketing extraordinary and have people talk about it, and one that makes products and experiences extraordinary, thus making people talk about the product:
As I see it, it's not really a matter of choosing between the two, so much as them being two different phases in a product life-cycle. There is no doubt that you should make the experience and the product as compelling in themselves as possible. There is also no doubt that if your product is extraordinary enough (such as Google and TiVo which are mentioned), very little marketing is required to get the buzz going.
But what if you're selling car insurance, like Geico? What if yours is a low margin, low innovation, high competition market - and you're trying to create awareness? Worse - what if you're literally in the fashion business, where you are actually selling image, perception, and style more than a measurable, easily communicated benefit?
That's where marketers wit, creativity, and style become major determinants of market success. It might not be the ideal business situation to be in, but let's remember that marketing executives can only realistically change so much about the products and experience, yet they are still hired to produce results. If, in that kind of situation, a marketer uses his wit and creativity to create enough buzz and affect the bottom line of his company, despite having little to rely on in terms of quantifiable benefits - all the more power to him!
Friday, August 17, 2007
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